Newly filed liquidator reports into the collapse of Bluesfest have revealed a series of findings that go far beyond the festival’s well-publicised debt problems.
The reports show the liquidator is now investigating possible insolvent trading, unusual payments made shortly before liquidation, hundreds of thousands of dollars paid to a Peter Noble-linked company without supporting documentation and millions of dollars moved between related Bluesfest entities.
Importantly, the liquidator has not alleged wrongdoing by any individual or company and investigations remain ongoing.
The liquidator believes Bluesfest may have been insolvent by October 2025
One of the most significant findings in the report is the liquidator’s preliminary view that Bluesfest Byron Bay Pty Ltd, the company responsible for running the festival, may have become insolvent around October 2025.
That would place the potential insolvency date approximately five months before the company entered liquidation in March 2026.
The report notes that further investigations are required to determine the exact date of insolvency, but says the company appears to have become insolvent sometime around October 2025.
The report questions $333,000 in payments made days before liquidation
The liquidator is also examining a series of payments made shortly before Bluesfest entered liquidation.
According to the report, the company made rent payments of:
• $133,000 on 3 March 2026
• $200,000 on 9 March 2026
The liquidator described the timing and nature of those payments as unusual and says they may give rise to potential recovery claims.
The payments were made just days before the companies entered liquidation.
More than $500,000 was paid to Peter Noble Group without supporting documentation
The report also identifies a number of substantial payments made to Peter Noble Group Pty Ltd in the weeks before liquidation.
These included:
• $260,000 on 9 March 2026 described as “wages”
• $61,000 on 3 March 2026 described as “wages”
• $150,000 on 3 March 2026 described as a “transfer”
• $42,000 on 27 February 2026 described as a “transfer”
The liquidator says these payments differed from the company’s normal payment patterns and that no supporting documentation was located for the transactions.
Investigations into those payments are continuing.
The company running Bluesfest was paying almost $1 million a year to use the festival site
Another area under investigation is a site licence agreement involving the Tyagarah festival site.
According to the report, Bluesfest Byron Bay Pty Ltd was paying a fixed licence fee of $950,000 per year plus GST to use the site.
The liquidator notes that the agreement required the payments to be made regardless of whether a festival was held or whether the event was profitable.
The report states that the terms appear heavily weighted in favour of the site-owning entity and says it remains unclear whether the arrangement reflected market value.
Business records show the trust connected to the site is linked to Peter Noble.
More than $6.8 million was transferred to Bluesfest Tours
The report also reveals that related Bluesfest entities received substantial payments during the 12 months before liquidation.
The largest recipient was Bluesfest Tours Pty Ltd, which received more than $6.8 million.
Other related entities listed in the report include:
• Bluesfest Group Pty Ltd — $281,780
• Bluesfest Presents Pty Ltd — $151,500
• Event Stalls Pty Ltd — $107,100
The liquidator says investigations into these arrangements and the services provided are ongoing.
The liquidator is also pursuing more than $1 million held by Stripe
The report reveals that payment processor Stripe was holding approximately $1.06 million in reserve funds connected to Bluesfest ticket sales.
The liquidator has issued a formal demand seeking recovery of those funds.
Stripe has separately lodged a proof of debt worth approximately $3.7 million.
That dispute remains ongoing.
What happens next
The liquidator has identified possible insolvent trading, unfair preference payments and uncommercial transactions as areas requiring further investigation.
The report states that a formal report will be provided to ASIC dealing with suspected breaches of the Corporations Act and other matters identified during the liquidation process.
The liquidation is expected to continue for at least another six to twelve months.
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About Joel King
Founder: Joel King is the founder of the modern Blunt and an Australian digital publisher, music journalist and media entrepreneur. He writes about music, media, culture and technology. Visit Joel.co | Facebook | LinkedIn | Reddit |
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